The North America building thermal insulation market size is expected to reach USD 13.83 billion by 2027, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 2.7% in terms of revenue during the forecast period. Rising consumer awareness, demand for thermal insulation materials, and favorable regulations owing to the focus on lowering the overall energy consumption are the factors expected to drive market growth.
The market players focus on increasing its market share through organic growth. The companies indulge in the expansion of their product portfolio by developing cost-effective insulation products with enhanced properties and expanding their manufacturing capabilities to cater to the ascending product demand worldwide.
Numerous local and international players in the market provide raw materials for thermal insulating components. Extensive production facilities and high capital investments result in high volume production of materials by prominent players, which is then used to manufacture insulating components.
The industry exhibits a large number of established players controlling significant market share. These companies develop a robust business model to adapt to market volatility and any technological and geographical change. The players usually maintain a strategic relationship with their suppliers to maintain uninterrupted supply.
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Expanded Polystyrene (EPS) is expected to witness the fastest CAGR of 3.1%, from 2020 to 2027, on account of high product penetration owing to the sound absorption, lightweight, and quakeproof nature of the product
The walls application segment dominated the market in 2019 and is expected to reach USD 5.58 billion by 2027, owing to the adoption of high-class architecture and maintaining high energy efficient standards by the residential and commercial structures
Residential end-use application accounted for 5.88 billion in 2019, on account of growth in the number of single-family houses in developing economies and rising disposable income of the consumers
The U.S. dominated the market in 2019 and is expected to reach USD 10.83 billion by 2027, owing to growth in the construction sector and increased demand for energy-efficient construction solutions
The major manufacturers emphasize innovation through extensive R&D for the production of advanced insulating materials. Numerous local players are engaged in manufacturing standard components, which results in stiff competition in the market
Grand View Research has segmented the North America building thermal insulation market based on product, application, end-use, and region:
North America Building Thermal Insulation Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
North America Building Thermal Insulation Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
North America Building Thermal Insulation End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
North America Building Thermal Insulation Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
List of Key Players of North America Building Thermal Insulation Market
Anco Products, Inc.
Atlas Roofing Corporation
Cellofoam North America Inc.
Certain Teed Corporation
GAF Material Corporation
Huntsman International LLC
Johns Manville Corporation
ROCKWOOL Insulation A/S
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